Welcome!

News Feed Item

How to Make a Co-Pay Card Program Work



Kevin Kane and Lori Schwartz of MarketShare Movers LLC, a solution provider at the marcus evans PharmaMarketing Summit 2014, on achieving a good ROI from co-pay card programs.

NEW YORK, NY, May 14, 2014 - (ACN Newswire) - Pharmaceutical marketers need to make data part of every decision they make, advised Kevin Kane, President, and Lori Schwartz, Vice President - Operations / Data Analytics, at MarketShare Movers LLC. The majority of co-pay card programs fall short of the expected return on investment (ROI), because they are not tracked or monitored to the degree and frequency that they could be, they said.

MarketShare Movers LLC is a solution provider at the marcus evans PharmaMarketing Summit 2014, in Palm Beach, Florida, May 12-14.

- What needs are not being met in pharma marketing with co-pay card programs today?

Kevin Kane - A critical need is to execute promotions promptly and measure impact early and often. Many people say they do it, but they are too slow in getting products out into the market. Co-pay card programs, if they are measured at all, it is done too late. In addition, most co-pay card vendors are one dimensional and do not integrate data and decision making.

- How could companies boost their market share? What do some co-pay card programs lack?

Kevin Kane - Although these programs are expensive, companies consider them important because they do not want excessive cost to be the reason why patients are not taking their drug. When co-pay card prescriptions are written, we match opt in patients to their prescription data, their pharmacy, and their doctor. If this is managed appropriately, the data can be used to make one good decision after another. However, most marketers do not believe they can affect the outcome.

- What data should they look at to achieve better results?

Lori Schwartz - We help the brand manager set up an objective - for example, 100,000 prescriptions by the end of the year - and focus on that. We look at the market, get prescription data, look at the profit margins, how competitive products are trending, product price and clinical profile.

When the product is being launched, we look at the data coming in on a daily or weekly basis, and try to understand the relationship between using the co-pay card to try at production and leveraging this to become an ongoing behavior change. Our goal is to get as many doctors as possible to try the product in the shortest period of time and avoid cannibalization, overuse of the card, as it affects ROI. A high volume redeemer will not bring higher profit, so pulling back the promotions on certain targets (at a certain time) would give us the opportunity to provide them to higher opportunity targets.

It is important to evaluate the program on an ongoing basis, and adjust the offer or channels accordingly. We have learned that if we get the brand manager to make five or ten decisions that they previously would not have made, the end result will be exponentially higher.

About the PharmaMarketing Summit 2014

This unique forum will take place at the Eau Palm Beach Resort & Spa, Palm Beach, Florida, May 12-14, 2014. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on digital marketing, building a brand strategy, generating new revenue streams and boosting physician engagement.

For more information please send an email to [email protected] or visit the event website at www.pharmamarketingsummit.com/KevinKaneLoriSchwartzInterview

marcus evans group - marketing/sales sector portal - www.marcusevans.com/reviews/marketing

The Marketing Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.

- LinkedIn: www.linkedin.com/groups?mostPopular=&gid=3379860&trk=myg_ugrp_ovr
- YouTube: www.youtube.com/MarcusEvansMarketing
- Twitter: www.twitter.com/meSummitsMkt
- SlideShare: www.slideshare.net/MarcusEvansMarketing

Please note that the Summit is a closed business event and the number of participants strictly limited.

About MarketShare Movers LLC

MarketShareMovers is the only full service co pay card company that has a hyper-focus on our client's market penetration and ROI. A vast majority of the industry co-pay card programs fall short of the ROI you expect and deserve. If you need your market share to move, we've got the proven experience, the pioneering method and the immediate analytics to do the job. We can provide you with an actionable and adjustable co-pay card program that's guaranteed to yield unprecedented success. For the past 15 years, our experts pioneered the original successful use of vouchers/co-pay cards to move brand market share and ROI. www.marketsharemovers.com.

About marcus evans Summits

marcus evans Summits are high level business forums for the world's leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com.

- Twitter: www.twitter.com/meSummitsGlobal
- YouTube: www.youtube.com/user/MarcusEvansGroup
- SlideShare: www.slideshare.net/MarcusEvansSummits

Source: marcus evans Summits

Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: [email protected]




Copyright 2014 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...